Woolworths Have Just Released Some Big News About Big W

Real Estate & Finance

Posted on May 02, 2017

Woolworths has continued its amazing turnaround with the supermarket managing to lift its sales by 4.5 percent.

In February, Woolworths overtook Coles as the Australia’s favourite food store for the first time in seven years and while they are viewing it as a positive, they have warned that customers will be paying more for groceries in the future as energy costs rise.

However, Big W is not having such good luck, with the chain expected to be making a loss of between $115-135 million.

Chief executive Brad Banducci has said that “Big W is a work in progress and its turnaround will be a multi-year journey,”

“Due to the investment we are undertaking as part of our revised plan, we currently expect Big W to report a loss before interest and tax of $115-135 million for 2017.”